Get pet insurance before you get hit with an enormous vet’s bill
IN A recent column I invited people to get in touch with me about the non-pandemic things that concerned them the most. By some distance veterinary bills and pet insurance topped the list.
Over lockdown, many people have realised that working from home means they can have pets – or at least be around for the tricky ‘puppy and kitten’ stages.
Pets are a source of comfort and companionship for millions of people. Some of the most impassioned conversations I hear come from people worried about the health of a pet, and affording medical treatment is a big, big concern for many – which brings us to pet insurance and vets’ bills.
In recent years, the cost of pet insurance has increased significantly as many insurers pulled out of the market. Because you’re more likely to claim on a pet insurance policy over time, it makes this form of insurance less profitable.
The good news is there seems to be a bit of resurgence in providers of pet policies in the last year. But as with any policy, they often have limits on what they will cover and how much they pay out.
A recent survey by the Association of British Insurers found that 13 million cats and dogs in the UK are uninsured, with people ‘self-insuring’ – putting money aside to cover treatment – and others not taking any precautions at all.
This can often lead to very distressing situations as vets’ bills can be eye-wateringly high for some treatments. So having insurance – even if it doesn’t cover everything – is vital.
The best policy you can buy is a ‘lifetime’ policy, which covers your pet for treatment for life, though only for a set amount each year. These are the priciest policies but make the most sense for pet lovers.
You can also buy ‘maximum benefit’ policies that will pay a set amount for each illness. Finally, there are ‘time limited’ policies (only cover your pet for a set period) and ‘accident only’ policies.
If you’re on a budget, an accident only policy is worth considering. As the name suggests, the policies will only cover you for genuine accidents not illnesses. But if money is tight, they can really help out if your pet is injured.
Take time to read the policy though to understand what is being defined as an accident – and get the insurer to explain anything that isn’t clear.
A lot of the people I speak to don’t want to think about their pet getting ill, so leaving aside some basic injections and treatments, many people avoid speaking to a vet until something bad happens. I’d really encourage anyone with a pet to get to know their vet. The security of knowing that the surgery is there, its opening hours and where to go if you need emergency treatment is priceless – though I hope you never need to use it.
Speak to your vet before signing up to see if their fees are likely to be covered. There’s quite a lot of variation with vets’ fees – and if yours is pricey, check how much the insurer is willing to cover.
And finally, if you need to make a claim, speak to the insurer and tell them about the costs asap. Some vets may recommend ‘experimental’ treatments that aren’t recognised and might not be covered. I’ve seen dogs sent for spa treatments at £3,000 for frolicking in a glorified jacuzzi. So make sure you look into what every treatment involves and how it helps the underlying medical condition.
Resolver can help you sort out complaints about pretty much anything for free – including pets and vets. Check out resolver.co.uk